Section 10: Presenting the Documents for Signing fully solved 2023

Section 10: Presenting the Documents for Signing fully solved 2023The recommended first item of business is to give the borrower his copy of the documents in the loan package. - correct answer False A Notary Signing Agent should state, for the borrower, the Notary's exact role and limitation of authority. - correct answer True One thing that will bring the signing to a halt is the inability of the Notary Signing Agent to identify the borrower by a means that complies with state notary law, and that is acceptable to the lender. - correct answer True By custom, the borrower's name as it appears on his or her photo identification can be less detailed than it appears on the loan documents. - correct answer False A Notary Signing Agent should confirm with the closing agent that the lender will allow a secondary form of identification to be used in combination with a primary ID document to verify a borrower's identity. - correct answer True The U.S. Patriot Act CIP Form documents the Notary's compliance with certain Patriot Act requirements. - correct answer False A borrower may use a variety of name or initialing formats to execute loan documents, as long as the Notary Signing Agent observes all signatures and initials being made. - correct answer False The borrower must give the cash-to-close funds to the Notary Signing Agent to be returned with the signed loan documents, but sends any "stipulations" directly to the lender. - correct answer False When presenting loan documents a Notary Signing Agent does not offer opinions or advice, and limits comments to "what" each loan document is, "where" to find information, and "where" to sign or initial. - correct answer True Every loan document package will include a Deed of Trust, and a Mortgage document. - correct answer False A good time to give the borrower his or her copy of the loan documents is while the Notary Signing Agent is performing a final check on the signed documents. - correct answer True A Notary Signing Agent should quickly leave a finished signing in order to promptly perform his or her next tasks. - correct answer True A Notary Signing Agent may answer "why," "how" and "when" questions as long as the borrower could also find the information right in the loan documents. - correct answer False A Notary Signing Agent giving an opinion or advice about the contents or effects of any loan document or loan transaction could be seen as unlicensed practice of law. - correct answer True When an unresolvable problem ends a loan document signing, the Notary Signing Agent may leave the borrower's copy of the loan documents to facilitate any subsequent discussion with the closing agent or lender representative. - correct answer False If the borrower fails to present any required stipulations, the Notary Signing Agent should ask the closing agent whether the loan signing shall continue without the stipulations, or be stopped. - correct answer True